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electroCore Announces Third Quarter 2021 Financial Results Third quarter 2021 revenue grew 17 % sequentially and 38 % over third quarter 2020 Company to host a conference call and webcast today , November 4 , 2021 at 4:30 pm . ET ROCKAWAY , NJ , November 4 , 2021 ( GLOBE NEWSWIRE ) -- electroCore , Inc. ( Nasdaq : ECOR ) , a commercial - stage bioelectronic medicine company , today announced third quarter 2021 financial results and provided an operational update . Third Quarter 2021 and Recent Highlights Revenue of $ 1.5 million , representing an increase of 17 % sequentially and 38 % over third Gross margin expanded to 76 % quarter 2020 Net cash used to fund operations was $ 3.4 million , leaving approximately $ 39.0 million of cash , cash equivalents , and marketable securities at September 30 , 2021 Dan Goldberger , Chief Executive Officer of electroCore , commented : “ We are pleased that our third quarter results continue to show steady sequential revenue growth , despite the impact of the pandemic on our headache markets in the U.S. and U.K. " Mr. Goldberger added : “ Revenue for the quarter was $ 1.5 million and we continue to be confident about the growth prospects of the business . Our cash balance , including our marketable securities , of $ 39.0 million at September 30 , 2021 , puts the company in an excellent position to execute on its strategy . " Third Quarter 2021 Financial Results For the quarter ended September 30 , 2021 , electroCore reported net sales of $ 1.5 million compared to $ 1.3 million in the second quarter of 2021 and $ 1.1 million during same period of 2020. This represents a quarterly revenue increase of 17 % sequentially and 38 % over the same period last year . Revenue from the Department of Veterans Affairs ( " VA " ) and Department of Defense ( “ DOD " ) increased 21 % sequentially to $ 946,000 in the third quarter of 2021 from $ 779,000 in the second quarter of 2021 and increased 46 % as compared to $ 646,000 in the third quarter of 2020 . 96 VA and DoD military treatment facilities have purchased gammaCore products through September 30 , 2021 as compared to 85 facilities through the June 2021 and 67 facilities through the third quarter of 2020 .